Wholesaling in Metro Detroit

Wholesaling
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Wholesaling in Metro Detroit

Marques Barton
Redford, MI · Member since 2013 · 55 posts · 9 votes

I want to invest in Real Estate but I don't have the capital to go out get a property and find tenant's. Wholesaling seems like a way I can get into real estate but \reduce my start up costs, I am hoping that I can get connected with other real estate investors and wholesalers in the Metro Detroit Area, I don't see a lot of marketing from wholesalers here so if not sure if that's a good or a bad sign lol. I have read a couple books and even to went to a "Guru" seminar but for additional mentorship from the guru I would've had to pay $2,000 dollars and quite frankly it seemed like a sales pitch more than anything else.

I was even nervous typing this first post, but I know if real estate investing is something I want to do then I must take actions towards my goal and network with people anyway I can.

So if anyone has any advice for me feel free to comment, I am currently looking for a second job to increase my funds for investing and marketing and also available to help to any wholesalers or real estate investors in any form so I can gain more knowledge of REI. Looking forward to your comments!!!

Thanks Marques!

Thanks Marques

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Michael Dundon
Rental Property Investor · Rochester Hills, MI · Member since 2011 · 60 posts · 26 votes
12y

Hey @Marques Barton - I see you're from Redford. My partner and I own and manage a lot of rental property in South Redford. We are always looking to buy more. My advice is to really learn whatever market that you want to wholesale in. Start in Redford. A ton of Landlords are looking for houses/deals there. I'll teach you as much as I can and you don't need to pay me $2000:) Just buy me a cup of coffee and maybe a sandwich at the Panera at Middlebelt and I 96:)

Take care,

Mike Dundon

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  • Brett Russell
    Investor · Chelsea, MI · Member since 2013 · 350 posts · 138 votes
    12y

    @Marques Barton , welcome to BP.

    You've definitely come to the right place to get started. There is a good contingent of people from Metro Detroit who are pretty active on here and there were 2 recent meetups and I'm sure more to come in 2014.

    0Reply
  • Akiva L.
    Dallas, TX · Member since 2013 · 31 posts · 3 votes
    12y

    @Marques Barton

    Welcome to BP, as @Brett Russell noted, we have a large group of Michigan investors here on BP. Check out some of the local real estate investor meetings (Renegade Detroit, Michigan Real Estate Investors, or REIA of Oakland), or look for the BP meetup next year (last meetup). There are a lot of helpful and friendly people networking.

    0Reply
  • Michael Dundon
    Rental Property Investor · Rochester Hills, MI · Member since 2011 · 60 posts · 26 votes
    12y

    Hey @Marques Barton - I see you're from Redford. My partner and I own and manage a lot of rental property in South Redford. We are always looking to buy more. My advice is to really learn whatever market that you want to wholesale in. Start in Redford. A ton of Landlords are looking for houses/deals there. I'll teach you as much as I can and you don't need to pay me $2000:) Just buy me a cup of coffee and maybe a sandwich at the Panera at Middlebelt and I 96:)

    Take care,

    Mike Dundon

    1Reply
  • Marques Barton
    OP
    Redford, MI · Member since 2013 · 55 posts · 9 votes
    12y
    Originally posted by @Brett Russell:
    @Marques Barton , welcome to BP.
    You've definitely come to the right place to get started. There is a good contingent of people from Metro Detroit who are pretty active on here and there were 2 recent meetups and I'm sure more to come in 2014.

    Thanks Brett,

    I'll be sure to keep connecting with people in my area and searching BP for more information,

    @Brett Russell

    0Reply
  • Marques Barton
    OP
    Redford, MI · Member since 2013 · 55 posts · 9 votes
    12y
    Originally posted by @Akiva L.:
    @Marques Barton
    Welcome to BP, as @Brett Russell noted, we have a large group of Michigan investors here on BP. Check out some of the local real estate investor meetings (Renegade Detroit, Michigan Real Estate Investors, or REIA of Oakland), or look for the BP meetup next year (last meetup). There are a lot of helpful and friendly people networking.

    Thanks @Akiva L. for the links you provided, this way go long way into helping network with established REI in the metro Detroit area. I appreciate it very much.

    0Reply
  • Marques Barton
    OP
    Redford, MI · Member since 2013 · 55 posts · 9 votes
    12y
    Originally posted by @Michael Dundon:
    Hey @Marques Barton - I see you're from Redford. My partner and I own and manage a lot of rental property in South Redford. We are always looking to buy more. My advice is to really learn whatever market that you want to wholesale in. Start in Redford. A ton of Landlords are looking for houses/deals there. I'll teach you as much as I can and you don't need to pay me $2000:) Just buy me a cup of coffee and maybe a sandwich at the Panera at Middlebelt and I 96:)
    Take care,
    Mike Dundon

    Hey @Michael Dundon

    Thank you for your advice and I definitely would like to take you up on your offer. Maybe we could set something up after the holidays to meet at Panera and I will buy you any sandwich you want!

    Happy Holidays.

    0Reply
  • Jeff LubeskiPro Member
    Investor · Hartland, MI · Member since 2013 · 60 posts · 6 votes
    12y

    @Marques Barton

    I am new to this group but have done a couple deals. This seems like a great group to get advice. Welcome.

    0Reply
  • Tom A.
    Investor · West Bloomfield, MI · Member since 2009 · 358 posts · 306 votes
    12y

    Welcome Marques! Follow Akiva's recommendations for local REIAs and the local meetup -- they're great ways to meet like-minded investors that you can learn a lot from for free, or in Mike's case, for the price of coffee and a sandwich :-). Mike's a great guy and an astute investor, your Panera investment will be well worth it! Hope to see you around.

    0Reply
  • Aaron Yates
    Investor · Macomb, MI · Member since 2013 · 654 posts · 115 votes
    12y

    Welcome to BP @Marques Barton . Everyone here is correct on their advice to you so I won't repeat it.

    What I WILL tell you is that wholesaling is NOT easy or CHEAP as your Guru said it would be. It takes lots and lots of time, marketing, and capital to make money in wholesaling. Especially time!!!

    So it you decide that's what you want to do, just make sure you can follow through and put the time in that's needed.

    I look forward to seeing you at January's Meetup. I am currently trying to get it planned for January 24th or maybe the 13th since @Tom A. will not be able to attend if we have it on the 17th. I have to call Bahama Breeze in Livonia today and see if they can handle a group of 25+ on a Friday night.

    0Reply
  • Marques Barton
    OP
    Redford, MI · Member since 2013 · 55 posts · 9 votes
    12y
    Originally posted by @Aaron Yates:
    Welcome to BP @Marques Barton . Everyone here is correct on their advice to you so I won't repeat it.
    What I WILL tell you is that wholesaling is NOT easy or CHEAP as your Guru said it would be. It takes lots and lots of time, marketing, and capital to make money in wholesaling. Especially time!!!

    So it you decide that's what you want to do, just make sure you can follow through and put the time in that's needed.

    I look forward to seeing you at January's Meetup. I am currently trying to get it planned for January 24th or maybe the 13th since @Tom A. will not be able to attend if we have it on the 17th. I have to call Bahama Breeze in Livonia today and see if they can handle a group of 25+ on a Friday night.

    Hey @Aaron Yates as I have had more time to research BP, I also came to that conclusion that wholesaling may not be the niche I start out with as a "newbie" because of the time and money needed.

    I would definitely be interested in joining your meet up group, please let me know when you decide on date and I will make sure I clear my schedule so I can attend.

    Thanks again for reaching out and giving me advise, look forward to talking to you again soon.

    0Reply
  • Tom A.
    Investor · West Bloomfield, MI · Member since 2009 · 358 posts · 306 votes
    12y

    Hey @Marques Barton , here's the scoop on the next Metro Detroit BP Meetup. It will be 1/24 at Bahama Breeze in Livonia (I-275 and 7 Mile). Hope to see you (and anyone else reading this)!

    https://www.facebook.com/events/535074366590057/

    0Reply
  • Aaron Yates
    Investor · Macomb, MI · Member since 2013 · 654 posts · 115 votes
    12y
    Originally posted by @Tom A.:
    Hey @Marques Barton , here's the scoop on the next Metro Detroit BP Meetup. It will be 1/24 at Bahama Breeze in Livonia (I-275 and 7 Mile). Hope to see you (and anyone else reading this)!

    https://www.facebook.com/events/535074366590057/

    Ok. so how come EVERYONE but ME can get a link to work for this thing... geeez... LOL

    0Reply
  • Jeff King
    Livonia, MI · Member since 2013 · 35 posts · 2 votes
    12y
    Tom A. I hope to make it there. I met you last October I believe at the renegade investors meeting. Been super busy but did buy my first property and am currently rehabbing it.
    0Reply
  • Joe Fairless
    Investor · Cincinnati, OH · Member since 2013 · 2k+ posts · 1k+ votes
    12y

    @Marques Barton - welcome to BP and I'm really glad you joined the conversation. Here's one blog post I wrote that might be helpful for you:

    http://www.biggerpockets.com/blogs/4430/blog_posts/32194-attention-wholesalers-2-ways-to-stand-out-from-your-competition

    0Reply
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